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Relative Intelligence · Banks

How Lloyds Banking Group (LYG) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on LYG alone. It places LYG (Lloyds Banking Group plc) against 19 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where LYG stands in the market, and of the alternatives worth a closer look.

Period covered: LYG's full trading record, from November 2001 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against LYG →Chart LYG vs. 19 alternatives →
On this page12 sections

Key findings

How much would $10,000 in LYG have grown?

This chart tracks a hypothetical $10,000 investment in LYG over the past 24 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of LYG over the same span and LYG's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 2002 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 1,324 of the 1,370 stocks and funds worth at least $500 million that traded the whole period ended ahead of LYG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M2002200620102014201820222026$10,000$100,000$1M20022008201420202026
  • BAP$1M+11,517% total · +21.9% a year
  • CM$270,720+2,607% total · +14.7% a year
  • SPY (S&P 500)$144,215+1,342% total · +11.8% a year
  • BBVA$125,262+1,153% total · +11.1% a year
  • SAN$116,215+1,062% total · +10.8% a year
  • HSBC$65,857+559% total · +8.2% a year
  • ING$64,785+548% total · +8.1% a year
  • UBS$45,107+351% total · +6.5% a year
  • DB$14,157+41.6% total · +1.5% a year
  • LYG$8,582−14.2% total · −0.6% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 378 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of LYG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000202120222023202420252026$0$20,000$40,000$60,000$80,000202120222023202420252026
  • BBVA$57,750+478% total · +42.0% a year
  • HSBC$51,297+413% total · +38.7% a year
  • SAN$45,493+355% total · +35.4% a year
  • BAP$44,181+342% total · +34.6% a year
  • NWG$38,050+281% total · +30.6% a year
  • ING$35,607+256% total · +28.9% a year
  • UBS$34,575+246% total · +28.2% a year
  • LYG$28,578+186% total · +23.4% a year
  • CM$25,433+154% total · +20.5% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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LYG at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$80B
Industry
Banks - Regional
Price history from
November 2001

Returns

Past 1 year
+22.4%total return
Past 3 years
+207%+45.4% a year
Past 5 years
+152%+20.3% a year
Past 10 years
+213%+12.1% a year
Best calendar year
+104%2025
Worst calendar year
−77.6%2008
Losing years
12 of 24full calendar years

Risk

Volatility
32.1%typical yearly swing, 5 years
Sharpe ratio
0.74return per unit of risk, 5 years
Worst decline ever
−94.8%Oct 2007 to Mar 2009
From its all-time high
−63.4%below the peak

LYG against the whole market

Where LYG ranks among every stock and fund, and what across the market has done better.

How does LYG rank among all stocks?

This section ranks LYG on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how LYG stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureLYGRankStanding
1-year return+22.4%1,172 of 3,287top 36%
3-year return+207%377 of 3,017top 12%
5-year return+152%444 of 2,893top 15%
10-year return+213%814 of 2,202top 37%
Volatility, 5 years32.1%920 of 2,893top 32%
Sharpe ratio, 5 years0.74388 of 2,893top 13%
Worst decline, past 10 years−66.5%1,161 of 2,187bottom 48%

What has beaten LYG on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). LYG sits where the dashed lines cross. Anything in the green box above and to the left earned more than LYG with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to LYG; faint dots are 38 more of the 55 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

15.0%17.5%20.0%22.5%25.0%27.5%30.0%32.5%35.0%37.5%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than LYGRS: +24.8% a year, volatility 28.1%NHC: +32.0% a year, volatility 28.5%PH: +27.4% a year, volatility 28.8%VRTX: +22.6% a year, volatility 29.1%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%FBIZ: +23.1% a year, volatility 29.4%LNG: +23.4% a year, volatility 30.2%IHG: +21.4% a year, volatility 26.6%AIT: +28.5% a year, volatility 30.3%ALSN: +27.3% a year, volatility 29.9%MPLX: +23.5% a year, volatility 18.8%TT: +22.7% a year, volatility 27.7%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%WELL: +26.0% a year, volatility 23.8%XOM: +27.1% a year, volatility 26.5%WMB: +24.6% a year, volatility 24.0%WAB: +25.6% a year, volatility 26.2%GILD: +22.8% a year, volatility 24.9%USFD: +22.7% a year, volatility 29.8%UNM: +30.6% a year, volatility 29.3%CLH: +23.1% a year, volatility 28.6%KOF: +22.3% a year, volatility 24.7%CW: +30.8% a year, volatility 28.7%DTM: +24.5% a year, volatility 25.2%BLX: +31.4% a year, volatility 25.9%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%BCH: +25.2% a year, volatility 28.2%XLE: +22.6% a year, volatility 25.5%PAA: +27.0% a year, volatility 25.6%WES: +23.5% a year, volatility 27.6%PAGP: +26.8% a year, volatility 26.1%IEO: +21.5% a year, volatility 29.9%LYG: +20.3% a year, volatility 32.1%SPY (S&P 500): +12.7% a year, volatility 17.1%UBS: +25.4% a year, volatility 30.4%BAP: +30.8% a year, volatility 30.3%HSBC: +33.1% a year, volatility 25.9%CM: +19.2% a year, volatility 21.6%BBVA: +38.7% a year, volatility 33.3%SAN: +31.7% a year, volatility 33.9%CBOE: +21.5% a year, volatility 25.1%MUFG: +33.2% a year, volatility 29.4%SMFG: +33.7% a year, volatility 29.4%BNY: +22.7% a year, volatility 24.4%MFG: +33.6% a year, volatility 30.6%IBKR: +35.4% a year, volatility 35.4%ABBV: +26.1% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%PGR: +21.3% a year, volatility 25.6%TRV: +22.4% a year, volatility 22.3%LLY: +40.7% a year, volatility 32.8%DXJ: +26.6% a year, volatility 19.1%EPU: +29.5% a year, volatility 24.9%PM: +21.0% a year, volatility 23.4%CAH: +42.1% a year, volatility 24.7%LYGSPY (S&P 500)UBSBAPHSBCCMBBVASANCBOEMUFGSMFGBNYMFGIBKRABBVMCKPGRTRVLLYDXJEPUPMCAH15.0%20.0%25.0%30.0%35.0%40.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than LYGRS: +24.8% a year, volatility 28.1%NHC: +32.0% a year, volatility 28.5%PH: +27.4% a year, volatility 28.8%VRTX: +22.6% a year, volatility 29.1%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%FBIZ: +23.1% a year, volatility 29.4%LNG: +23.4% a year, volatility 30.2%IHG: +21.4% a year, volatility 26.6%AIT: +28.5% a year, volatility 30.3%ALSN: +27.3% a year, volatility 29.9%MPLX: +23.5% a year, volatility 18.8%TT: +22.7% a year, volatility 27.7%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%WELL: +26.0% a year, volatility 23.8%XOM: +27.1% a year, volatility 26.5%WMB: +24.6% a year, volatility 24.0%WAB: +25.6% a year, volatility 26.2%GILD: +22.8% a year, volatility 24.9%USFD: +22.7% a year, volatility 29.8%UNM: +30.6% a year, volatility 29.3%CLH: +23.1% a year, volatility 28.6%KOF: +22.3% a year, volatility 24.7%CW: +30.8% a year, volatility 28.7%DTM: +24.5% a year, volatility 25.2%BLX: +31.4% a year, volatility 25.9%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%BCH: +25.2% a year, volatility 28.2%XLE: +22.6% a year, volatility 25.5%PAA: +27.0% a year, volatility 25.6%WES: +23.5% a year, volatility 27.6%PAGP: +26.8% a year, volatility 26.1%IEO: +21.5% a year, volatility 29.9%LYG: +20.3% a year, volatility 32.1%SPY (S&P 500): +12.7% a year, volatility 17.1%UBS: +25.4% a year, volatility 30.4%BAP: +30.8% a year, volatility 30.3%HSBC: +33.1% a year, volatility 25.9%CM: +19.2% a year, volatility 21.6%BBVA: +38.7% a year, volatility 33.3%SAN: +31.7% a year, volatility 33.9%CBOE: +21.5% a year, volatility 25.1%MUFG: +33.2% a year, volatility 29.4%SMFG: +33.7% a year, volatility 29.4%BNY: +22.7% a year, volatility 24.4%MFG: +33.6% a year, volatility 30.6%IBKR: +35.4% a year, volatility 35.4%ABBV: +26.1% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%PGR: +21.3% a year, volatility 25.6%TRV: +22.4% a year, volatility 22.3%LLY: +40.7% a year, volatility 32.8%DXJ: +26.6% a year, volatility 19.1%EPU: +29.5% a year, volatility 24.9%PM: +21.0% a year, volatility 23.4%CAH: +42.1% a year, volatility 24.7%LYGSPY (S&P 500)UBSBAPHSBCCMBBVASANCBOEMUFGBNYIBKRABBVMCKTRVLLYDXJEPUPMCAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than LYG?

Investments that beat LYG over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat LYG over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks LYG's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than LYG follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than LYG's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× LYG's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than LYG's.

Screen the whole market against LYG for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with LYG?lower diversifies moreExpenseper year
LYGLloyds Banking Group plc · this page
+20.3%32.1%0.74−66.5%+213%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.490.09%
Popular alternativesbest 6 shownThe investments people most often weigh against LYG. 12 of 18 passed at least one test.
UBSUBS Group AG · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+25.4%30.4%0.90−59.8%+374%0.49—
BAPCredicorp Ltd. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+30.8%30.3%1.04−59.2%+298%0.42—
HSBCHSBC Holdings plc · Banks
Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+33.1%25.9%1.24−62.3%+319%0.70—
CMCanadian Imperial Bank of Commerce · Banks
Higher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.2%21.6%0.93−47.3%+395%0.61—
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Higher return, similar volatilityHigher return in most periods+38.7%33.3%1.16−69.6%+542%0.74—
SANBanco Santander, S.A. · Banks
Higher return, similar volatilityHigher return in most periods+31.7%33.9%0.99−73.8%+332%0.72—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Banks and the categories next to it (Regional Banks, Capital Markets, Payment Processing, Asset Management), plus LYG's specific themes. 20 of 129 passed at least one test.
CBOECboe Global Markets, Inc. · Capital Markets
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.5%25.1%0.91−43.2%+463%0.11—
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.2%29.4%1.13−54.9%+483%0.38—
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.7%29.4%1.14−47.6%+474%0.44—
BNYBank of New York Mellon Corp · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.7%24.4%0.97−50.5%+341%0.57—
MFGMizuho Financial Group, Inc. · Banks
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.6%30.6%1.10−45.7%+345%0.42—
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Higher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+35.4%35.4%1.04−55.1%+935%0.22—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 426 of 3,486 passed at least one test.
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.1%23.4%1.11−45.1%+603%0.23—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+38.7%25.0%1.44−38.1%+586%0.04—
PGRThe Progressive Corporation · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.3%25.6%0.89−30.3%+816%0.23—
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+22.4%22.3%1.02−46.3%+347%0.36—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.07—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.220.48%
EPUiShares MSCI Peru and Global Exposure ETF · International
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+29.5%24.9%1.17−51.0%+275%0.550.59%
PMPhilip Morris International Inc. · Tobacco
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.0%23.4%0.94−42.9%+242%0.59—
What these numbers mean for LYG
Annual return
LYG returned 20.3% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $25,200. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
LYG's volatility over the past 5 years was 32.1%, 1.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, LYG's return lands within 32.1% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
LYG's Sharpe ratio over the past 5 years was 0.74, against 0.79 for the S&P 500, so LYG earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
LYG's worst fall from a peak to a low over the past 10 years was 66.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 66.5% fall takes a 198% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, LYG's monthly returns had a correlation of 0.49 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against LYG instead: the lower it is, the more that option would diversify a LYG holding. Guide: Correlation and diversification →
Show all 55 stocks and funds worth at least $500 million that earned more than LYG with less volatility

Out of 3,633 tested over 5 years. The strongest 52 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with LYGExpense
1
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.23—
2
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.04—
3
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.23—
4
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.36—
5
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.19—
6
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.33—
7
CBOECboe Global Markets, Inc. · Capital Markets
Same or nearby category+21.5%25.1%0.91−43.2%+463%0.11—
8
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.20—
9
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.220.48%
10
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%0.46—
11
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%0.17—
12
EPUiShares MSCI Peru and Global Exposure ETF · International
Whole market+29.5%24.9%1.17−51.0%+275%0.550.59%
13
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.34—
14
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.34—
15
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.30—
16
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.69—
17
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.25—
18
FBIZFirst Business Financial Services, Inc. · Banks - Regional
Whole market+23.1%29.4%0.85−50.2%+307%0.45—
19
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+616%-0.03—
20
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.47—
21
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Same or nearby category+33.2%29.4%1.13−54.9%+483%0.38—
22
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Same or nearby category+33.7%29.4%1.14−47.6%+474%0.44—
23
AITApplied Industrial Technologies, Inc. · Industrial Distribution
Whole market+28.5%30.3%0.98−59.3%+742%0.27—
24
BNYBank of New York Mellon Corp · Banks
Same or nearby category+22.7%24.4%0.97−50.5%+341%0.57—
25
ALSNAllison Transmission Holdings, Inc. · Auto Parts
Whole market+27.3%29.9%0.96−48.7%+367%0.29—
26
UBSUBS Group AG · Banks
Popular alternative+25.4%30.4%0.90−59.8%+374%0.49—
27
BAPCredicorp Ltd. · Banks
Popular alternative+30.8%30.3%1.04−59.2%+298%0.42—
28
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.36—
29
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.40—
30
HSBCHSBC Holdings plc · Banks
Popular alternative+33.1%25.9%1.24−62.3%+319%0.70—
31
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.23—
32
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%0.23—
33
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.55—
34
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.28—
35
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Whole market+24.6%24.0%1.04−68.1%+288%0.30—
36
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.36—
37
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.20—
38
USFDUS Foods Holding Corp. · Food Distribution
Whole market+22.7%29.8%0.84−77.3%+347%0.43—
39
UNMUnum Group · Life Insurance
Whole market+30.6%29.3%1.06−81.0%+256%0.05—
40
CLHClean Harbors, Inc. · Environmental Services
Whole market+23.1%28.6%0.88−64.5%+588%0.25—
41
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.50—
42
CWCurtiss-Wright Corporation · Aerospace & Defense
Whole market+30.8%28.7%1.08−48.7%+512%0.24—
43
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+24.5%25.2%1.00−23.6%—0.26—
44
BLXBladex, Inc. · Banks - Regional
Whole market+31.4%25.9%1.19−68.5%+290%0.46—
45
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.360.19%
46
QTUMDefiance Quantum ETF · Technology
Whole market+22.8%28.1%0.87−38.5%—0.320.40%
47
BCHBanco de Chile · Banks
Same or nearby category+25.2%28.2%0.94−58.4%+180%0.44—
48
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.270.08%
49
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Whole market+27.0%25.6%1.06−87.9%+64.0%0.33—
50
WESWestern Midstream Partners, LP · Oil & Gas Midstream
Whole market+23.5%27.6%0.91−91.9%+128%0.40—
51
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Whole market+26.8%26.1%1.05−88.0%+56.3%0.31—
52
IEOiShares U.S. Oil & Gas Exploration & Production ETF · Broad Market
Whole market+21.5%29.9%0.80−75.0%+217%0.180.37%

LYG against its popular alternatives

The investments people most often weigh against LYG, compared period by period and year by year.

How do LYG's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at LYG, which divides the map into what did better or worse on each measure.

Green points earned more than LYG with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityLYG: 20.3% a year, volatility 32.1%SPY (S&P 500): 12.7% a year, volatility 17.1%BAP: 30.8% a year, volatility 30.3%UBS: 25.4% a year, volatility 30.4%ING: 24.7% a year, volatility 31.1%HSBC: 33.1% a year, volatility 25.9%BCS: 18.5% a year, volatility 34.1%BBVA: 38.7% a year, volatility 33.3%SAN: 31.6% a year, volatility 33.9%CM: 19.2% a year, volatility 21.6%NWG: 27.7% a year, volatility 34.1%DB: 22.1% a year, volatility 37.4%RY: 17.3% a year, volatility 18.2%TD: 15.8% a year, volatility 20.0%BMO: 13.6% a year, volatility 21.4%MA: 12.4% a year, volatility 23.8%V: 12.8% a year, volatility 22.9%BNS: 12.8% a year, volatility 19.9%EWU: 11.4% a year, volatility 16.4%PRU: 5.2% a year, volatility 25.5%LYGSPY (S&P 500)BAPUBSHSBCBCSBBVASANCMNWGDBRYTDBMOMAVEWUPRU15.0%20.0%25.0%30.0%35.0%40.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityLYG: 20.3% a year, volatility 32.1%SPY (S&P 500): 12.7% a year, volatility 17.1%BAP: 30.8% a year, volatility 30.3%UBS: 25.4% a year, volatility 30.4%ING: 24.7% a year, volatility 31.1%HSBC: 33.1% a year, volatility 25.9%BCS: 18.5% a year, volatility 34.1%BBVA: 38.7% a year, volatility 33.3%SAN: 31.6% a year, volatility 33.9%CM: 19.2% a year, volatility 21.6%NWG: 27.7% a year, volatility 34.1%DB: 22.1% a year, volatility 37.4%RY: 17.3% a year, volatility 18.2%TD: 15.8% a year, volatility 20.0%BMO: 13.6% a year, volatility 21.4%MA: 12.4% a year, volatility 23.8%V: 12.8% a year, volatility 22.9%BNS: 12.8% a year, volatility 19.9%EWU: 11.4% a year, volatility 16.4%PRU: 5.2% a year, volatility 25.5%LYGSPY (S&P 500)BAPUBSINGHSBCBCSBBVASANCMNWGDBRYTDPRU
All figures
InvestmentAnnual returnVolatility
BBVA Banco Bilbao Vizcaya Argentaria, S.A.+38.7%33.3%
HSBC HSBC Holdings plc+33.1%25.9%
SAN Banco Santander, S.A.+31.6%33.9%
BAP Credicorp Ltd.+30.8%30.3%
NWG NatWest Group plc+27.7%34.1%
UBS UBS Group AG+25.4%30.4%
ING ING Groep N.V.+24.7%31.1%
DB Deutsche Bank AG+22.1%37.4%
LYG This pageLloyds Banking Group plc+20.3%32.1%
CM Canadian Imperial Bank of Commerce+19.2%21.6%
BCS Barclays PLC+18.5%34.1%
RY Royal Bank of Canada+17.3%18.2%
TD The Toronto-Dominion Bank+15.8%20.0%
BMO Bank of Montreal+13.6%21.4%
BNS The Bank of Nova Scotia+12.8%19.9%
V Visa Inc.+12.8%22.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MA Mastercard Incorporated+12.4%23.8%
EWU iShares MSCI United Kingdom ETF+11.4%16.4%
PRU Prudential Financial, Inc.+5.2%25.5%
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Has LYG consistently beaten its popular alternatives?

This section compares LYG with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than LYG helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than LYG over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
LYG Lloyds Banking Group plc (this page)—−8.1%−6.7%−2.5%+1.7%+22.4%+207%+152%+213%32.1%0.74−66.5%—$80B—
BAP QualifiedCredicorp Ltd.5/5 short3/3 longAll-weather+0.1%+1.0%+21.9%+42.9%+61.4%+275%+283%+298%30.3%1.04−59.2%—$31B—
BBVA QualifiedBanco Bilbao Vizcaya Argentaria, S.A.4/5 short3/3 longAll-weather−10.4%+3.1%+11.7%+11.3%+35.2%+281%+413%+542%33.3%1.16−69.6%—$142B—
SAN QualifiedBanco Santander, S.A.4/5 short3/3 longAll-weather−10.2%−1.4%+4.5%+9.8%+35.9%+305%+295%+332%33.9%0.99−73.8%—$194B—
CM QualifiedCanadian Imperial Bank of Commerce5/5 short2/3 long−2.0%−3.3%+4.3%+25.8%+44.4%+261%+141%+395%21.6%0.93−47.3%—$103B—
UBS QualifiedUBS Group AG4/5 short2/3 long−7.5%−8.3%+10.6%+2.9%+26.3%+116%+210%+374%30.4%0.90−59.8%—$145B—
ING QualifiedING Groep N.V.4/5 short2/3 long−10.7%+2.4%+14.0%+18.9%+42.5%+209%+201%+339%31.1%0.87−74.4%—$94B—
HSBC QualifiedHSBC Holdings plc4/5 short2/3 long−10.1%−5.9%+2.3%+19.8%+47.7%+201%+318%+319%25.9%1.24−62.3%—$324B—
NWG Banks - RegionalNatWest Group plc2/5 short3/3 long−9.5%−1.4%+5.5%−2.1%+20.7%+273%+239%+495%34.1%0.89−67.4%—$35B—
DB Banks - RegionalDeutsche Bank AG1/5 short2/3 long−17.1%−8.6%−1.6%−17.0%−3.1%+244%+171%+165%37.4%0.72−72.7%—$60B—
BCS Banks - DiversifiedBarclays PLC0/5 short2/3 long−11.7%−17.1%−6.2%−13.3%+15.1%+242%+134%+238%34.1%0.67−66.0%—$75B—
RY Banks - DiversifiedRoyal Bank of Canada5/5 short1/3 long−3.5%−4.8%+12.0%+18.9%+39.2%+173%+122%+352%18.2%0.97−40.0%—$276B—
TD Banks - DiversifiedThe Toronto-Dominion Bank5/5 short1/3 long−0.9%+2.1%+16.3%+33.1%+57.5%+141%+109%+310%20.0%0.84−42.0%—$206B—
BMO Banks - DiversifiedBank of Montreal5/5 short1/3 long−5.5%−5.3%+10.8%+29.7%+37.6%+146%+89.4%+295%21.4%0.71−51.0%—$116B—
MA Financial - Credit ServicesMastercard Incorporated4/5 short1/3 long+9.5%+13.5%+20.5%+10.9%+10.3%+64.3%+79.2%+541%23.8%0.61−41.0%—$543B—
V Financial - Credit ServicesVisa Inc.4/5 short1/3 long+9.9%+13.0%+30.0%+18.0%+19.0%+78.2%+82.5%+429%22.9%0.64−36.4%—$759B—
BNS Banks - DiversifiedThe Bank of Nova Scotia5/5 short0/3 long−2.3%+6.9%+22.4%+28.9%+50.0%+162%+83.1%+187%19.9%0.71−46.9%—$112B—
EWU InternationaliShares MSCI United Kingdom ETF4/5 short0/3 long+0.1%+3.0%+0.9%+9.0%+17.1%+74.1%+71.5%+130%16.4%0.74−43.3%0.50%$3.8B—
PRU Insurance - LifePrudential Financial, Inc.4/5 short0/3 long−2.8%−1.2%+15.2%+5.2%+19.6%+47.5%+29.0%+117%25.5%0.33−65.9%—$40B—
BIRK Apparel - Footwear & AccessoriesBirkenstock Holding plc1/5 short0/3 long+4.6%−23.4%−21.6%−21.5%−20.9%−15.3%————−52.8%—$5.8B—
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How did LYG do year by year?

This table shows each investment's total return in every full calendar year since 2002, along with where LYG ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with LYG and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of LYG; gray means the two finished within a fraction of a point. The rank row places LYG among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of LYG202520242023202220212020201920182017201620152014201320122011201020092008200720062005200420032002
LYG This pageLloyds Banking Group plc—+104%+20.2%+14.5%−9.7%+34.6%−36.5%+36.9%−28.4%+26.8%−25.9%−4.4%−12.7%+66.1%+104%−61.7%+25.4%−27.5%−77.5%−11.6%+42.9%−1.5%+22.5%+25.3%−33.0%
Rank among alternativesTop quarter in 7 of 244 of 2010 of 2012 of 1914 of 198 of 1919 of 193 of 1913 of 199 of 1918 of 195 of 1916 of 193 of 191 of 1919 of 195 of 1918 of 1917 of 1814 of 174 of 1615 of 169 of 1616 of 1615 of 16
SPY S&P 500State Street SPDR S&P 500 ETF14 of 24+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%
BAP Credicorp Ltd.17 of 24+65.4%+31.4%+16.3%+14.6%−24.7%−17.7%−0.3%+9.0%+37.8%+64.9%−38.4%+22.3%−7.9%+36.3%−6.0%+57.5%+58.9%−33.2%+91.0%+86.8%+50.5%+22.0%+51.8%+5.5%
BBVA Banco Bilbao Vizcaya Argentaria, S.A.14 of 24+154%+14.2%+62.5%+10.0%+22.2%−6.4%+10.9%−35.0%+31.3%−1.5%−19.3%−20.6%+39.6%+18.2%−10.8%−39.7%+53.1%−45.6%+4.6%+39.4%+4.1%+32.9%+47.9%−19.3%
SAN Banco Santander, S.A.15 of 24+165%+14.9%+46.4%−6.8%+10.2%−19.6%−2.2%−28.5%+33.3%+12.3%−37.9%−0.4%+27.4%+22.8%−20.2%−30.2%+91.8%−52.3%+20.2%+47.1%+10.5%+6.8%+77.6%−11.3%
CM Canadian Imperial Bank of Commerce15 of 24+49.0%+37.9%+26.5%−26.8%+44.7%+9.3%+20.3%−19.8%+23.5%+29.8%−19.6%+4.8%+11.0%+16.8%−3.3%+27.1%+64.3%−37.9%−12.0%+32.5%+13.7%+26.0%+87.9%−14.9%
UBS UBS Group AG13 of 24+57.6%+0.7%+69.8%+7.4%+29.4%+19.5%+7.1%−29.9%+17.4%−14.4%+18.1%−10.2%+23.3%+34.3%−28.2%+6.2%+8.5%−68.9%−21.5%+32.5%+18.2%+27.9%+50.4%+1.7%
ING ING Groep N.V.16 of 24+91.3%+12.2%+32.0%−4.4%+55.4%−21.6%+20.6%−39.4%+36.7%+11.1%+6.4%−7.4%+47.6%+32.5%−26.8%−0.2%−11.7%−69.6%−8.2%+31.9%+20.8%+36.1%+48.7%−31.3%
HSBC HSBC Holdings plc14 of 24+67.9%+34.5%+39.3%+7.8%+20.8%−31.7%+1.5%−16.1%+35.9%+9.9%−11.5%−10.2%+8.5%+45.9%−22.2%−7.5%+22.2%−38.0%−4.0%+18.9%−1.5%+12.6%+52.3%−5.2%
NWG NatWest Group plc9 of 18+81.0%+92.5%−4.8%+8.6%+39.4%−24.9%+29.1%−26.1%+38.0%−37.6%−26.8%+6.9%+5.0%+69.3%−48.3%+31.2%−38.1%−90.0%——————
DB Deutsche Bank AG12 of 24+133%+29.4%+21.4%−5.9%+14.7%+40.1%−2.9%−56.7%+6.4%−25.0%−17.7%−36.4%+10.9%+19.7%−26.1%−20.1%+75.4%−65.5%−0.6%+42.0%+12.3%+9.8%+83.6%−34.3%
BCS Barclays PLC10 of 24+96.5%+76.2%+6.0%−21.9%+31.6%−12.8%+31.9%−29.3%+0.5%−12.8%−11.4%−14.9%+16.1%+61.7%−31.9%−4.7%+80.0%−73.6%−27.2%+44.2%−4.0%+31.1%+55.0%−23.6%
RY Royal Bank of Canada13 of 24+46.3%+23.8%+12.2%−8.0%+34.1%+8.4%+20.2%−12.9%+23.9%+31.8%−19.3%+6.7%+16.0%+23.3%+1.2%+1.4%+89.3%−39.4%+10.7%+26.0%+50.7%+15.9%+33.6%+15.8%
TD The Toronto-Dominion Bank13 of 24+85.3%−13.4%+4.5%−12.2%+41.3%+5.6%+17.5%−12.1%+22.9%+30.9%−14.9%+5.0%+16.1%+16.8%+4.1%+22.7%+85.4%−46.8%+20.4%+16.1%+30.7%+29.7%+61.4%−11.7%
BMO Bank of Montreal12 of 24+39.6%+3.0%+14.6%−12.4%+46.9%+3.3%+23.9%−14.9%+15.4%+32.9%−16.8%+10.4%+13.7%+17.3%−0.3%+13.7%+121%−51.9%−0.4%+9.4%+20.4%+21.0%+62.9%+23.0%
MA Mastercard Incorporated15 of 19+9.0%+24.2%+23.4%−2.7%+1.2%+20.2%+59.2%+25.3%+47.7%+6.9%+13.8%+3.7%+70.7%+32.1%+66.7%−12.2%+79.8%−33.4%+119%—————
V Visa Inc.12 of 17+11.8%+22.3%+26.3%−3.4%−0.3%+17.1%+43.3%+16.5%+47.2%+1.4%+19.1%+18.7%+48.0%+50.5%+45.4%−18.9%+68.0%———————
BNS The Bank of Nova Scotia14 of 24+45.1%+17.5%+6.0%−28.8%+40.6%+1.7%+17.5%−19.2%+20.5%+43.7%−25.1%−4.2%+11.5%+21.0%−9.6%+27.1%+82.6%−44.4%+16.6%+16.8%+21.4%+40.4%+59.9%+232%
EWU iShares MSCI United Kingdom ETF12 of 24+34.9%+6.8%+12.4%−4.4%+18.2%−11.8%+21.3%−14.3%+21.5%−1.2%−7.0%−7.6%+19.5%+15.2%−3.9%+10.2%+36.3%−46.5%+6.5%+30.3%+5.9%+18.4%+30.6%−15.3%
PRU Prudential Financial, Inc.15 of 24+0.2%+19.4%+10.1%−3.9%+45.3%−11.4%+20.1%−26.5%+13.6%+32.5%−7.4%+0.7%+77.1%+9.9%−12.1%+20.5%+66.8%−66.3%+9.7%+18.7%+34.5%+33.3%+33.4%−3.1%
BIRK Birkenstock Holding plc0 of 2−27.8%+16.3%——————————————————————
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Risk and diversification

How LYG has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were LYG's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents LYG's five deepest drawdowns since it began trading in 2001, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means LYG fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringLYG fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−94.8%−54.7%Oct 2007Mar 200917 monthsNot yet—
Dot-com bust−55.8%−21.9%May 2002Mar 200310 monthsFeb 20062.9 years
No named crash−11.0%−4.1%Jul 2007Sep 20072 monthsOct 20071 month
No named crash−10.8%−5.9%Feb 2007Mar 20071 monthApr 20071 month
Dot-com bust−10.5%−0.8%Feb 2002Feb 2002Under a monthApr 20022 months

How did LYG do in stock market crashes?

This section measures how far LYG, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: LYG began trading on November 27, 2001, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than LYG.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
LYG This pageLloyds Banking Group plc—−7.8%−40.5%−53.4%−23.3%−4.3%−34.6%−41.6%−4.5%−94.8%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF8 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
BAP Credicorp Ltd.8 of 9−4.7%−33.3%−38.3%−7.3%−6.7%−33.9%−16.0%−2.8%−64.9%−55.6%
BBVA Banco Bilbao Vizcaya Argentaria, S.A.6 of 9−10.9%−39.6%−47.9%−22.7%−5.4%−41.0%−32.7%0.0%−75.7%−55.9%
SAN Banco Santander, S.A.5 of 9−11.4%−41.0%−48.1%−19.0%−6.0%−44.7%−33.2%−0.9%−76.1%−58.4%
CM Canadian Imperial Bank of Commerce8 of 9−7.0%−36.2%−43.6%−22.2%−5.9%−25.3%−12.9%0.0%−71.8%−39.8%
UBS UBS Group AG5 of 9−9.5%−32.5%−42.3%−28.5%−8.2%−36.7%−39.7%−0.9%−87.5%—
ING ING Groep N.V.2 of 9−10.7%−43.4%−56.9%−24.1%−5.8%−35.4%−47.4%−3.6%−93.0%−66.4%
HSBC HSBC Holdings plc7 of 9−7.3%−31.8%−20.5%−13.1%−4.6%−30.8%−25.1%0.0%−73.8%−41.4%
NWG NatWest Group plc3 of 8−5.2%−30.4%−52.6%−28.1%−4.9%−39.8%−46.5%−4.3%——
DB Deutsche Bank AG3 of 9−11.6%−54.2%−48.6%−36.3%−9.3%−54.8%−46.8%0.0%−82.7%−64.9%
BCS Barclays PLC1 of 9−10.2%−48.1%−57.1%−22.9%−4.1%−50.6%−44.9%−4.8%−93.9%−38.4%
RY Royal Bank of Canada8 of 9−3.8%−26.0%−40.0%−17.1%−5.7%−23.1%−21.8%0.0%−63.1%−21.6%
TD The Toronto-Dominion Bank8 of 9−6.7%−29.0%−41.0%−20.9%−5.5%−18.1%−19.6%0.0%−63.4%−44.1%
BMO Bank of Montreal7 of 9−5.5%−30.5%−49.4%−23.5%−6.2%−18.9%−16.4%0.0%−68.5%−26.5%
MA Mastercard Incorporated8 of 9−4.0%−28.2%−41.0%−21.9%−5.8%−20.4%−13.8%−3.1%−62.7%—
V Visa Inc.7 of 8−3.5%−24.1%−36.4%−19.1%−5.8%−15.8%−11.5%−0.8%——
BNS The Bank of Nova Scotia8 of 9−4.6%−35.4%−43.0%−17.7%−6.1%−24.3%−19.8%0.0%−63.8%−23.6%
EWU iShares MSCI United Kingdom ETF8 of 9−2.1%−24.9%−40.2%−15.3%−5.5%−22.4%−20.2%−0.5%−64.0%−41.6%
PRU Prudential Financial, Inc.4 of 9−13.3%−27.4%−58.2%−26.8%−11.9%−35.8%−27.9%−3.1%−88.3%—
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How closely does LYG move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares LYG with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than LYG's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
LYG This pageLloyds Banking Group plc106%130%0.821.20
HSBC HSBC Holdings plc79%53%1.490.58
BBVA Banco Bilbao Vizcaya Argentaria, S.A.121%97%1.251.11
MA Mastercard Incorporated105%88%1.200.95
V Visa Inc.93%79%1.180.87
RY Royal Bank of Canada97%88%1.110.88
SAN Banco Santander, S.A.101%92%1.101.02
TD The Toronto-Dominion Bank89%80%1.100.88
BAP Credicorp Ltd.88%82%1.070.88
CM Canadian Imperial Bank of Commerce108%106%1.021.07
NWG NatWest Group plc128%124%1.021.13
UBS UBS Group AG116%120%0.971.18
BMO Bank of Montreal104%112%0.931.12
ING ING Groep N.V.136%155%0.881.36
DB Deutsche Bank AG102%118%0.861.21
BCS Barclays PLC113%131%0.861.26
BNS The Bank of Nova Scotia97%120%0.811.05
EWU iShares MSCI United Kingdom ETF71%89%0.800.75
PRU Prudential Financial, Inc.102%146%0.701.25
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What diversifies LYG?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with LYG's. Because such investments tend not to fall at the same time, pairing LYG with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which LYG lost money. The last two columns show a portfolio that is 80% LYG and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20222020201820162015201420112009200820072005200280/20 mix volatility80/20 mix annual return
LYG Lloyds Banking Group plc (this page)1.00+152%0.74−9.7%−36.5%−28.4%−25.9%−4.4%−12.7%−61.7%−27.5%−77.5%−11.6%−1.5%−33.0%28.6%+23.4%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.22+225%1.34+6.0%+3.9%−19.8%+1.1%+7.7%+8.1%−16.1%+2.0%−20.8%−7.4%——23.6%+24.9%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.44+101%1.04+10.4%−13.4%−8.7%+29.8%−25.3%+23.8%——————24.3%+22.4%
SMH TechnologyVanEck Semiconductor ETF0.31+323%0.97−33.5%+55.5%−9.1%+35.6%−0.3%+30.2%+6.8%+60.5%−44.7%+6.0%+10.8%−47.0%25.9%+27.4%
GLD CommoditiesSPDR Gold Shares0.25+126%0.96−0.8%+24.8%−1.9%+8.0%−10.7%−2.2%+9.6%+24.0%+4.9%+30.4%+17.8%—24.0%+23.2%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.36+136%0.93−10.4%+28.2%−0.9%+7.4%————————24.7%+23.8%
XLE EnergyState Street Energy Select Sector SPDR ETF0.27+177%0.93+64.4%−32.7%−18.2%+28.0%−21.5%−8.7%+2.8%+21.8%−39.0%+36.8%+40.1%−14.8%24.8%+24.3%
EWT TechnologyiShares MSCI Taiwan ETF0.37+153%0.89−28.9%+31.5%−9.9%+17.7%−12.9%+7.0%−21.8%+73.7%−45.3%+6.4%+4.7%−24.4%25.3%+23.9%
AMLP EnergyAlerian MLP ETF0.33+111%0.89+25.5%−32.3%−12.6%+14.9%−25.7%+4.8%+10.2%—————24.4%+23.1%

Stocks

InvestmentCorrelation5Y returnSharpe20222020201820162015201420112009200820072005200280/20 mix volatility80/20 mix annual return
LYG Lloyds Banking Group plc (this page)1.00+152%0.74−9.7%−36.5%−28.4%−25.9%−4.4%−12.7%−61.7%−27.5%−77.5%−11.6%−1.5%−33.0%28.6%+23.4%
CAH Medical - DistributionCardinal Health, Inc.0.19+479%1.55+54.1%+10.1%−24.5%−17.5%+12.6%+23.0%+8.1%−4.4%−39.6%−9.8%+18.7%−8.3%24.4%+27.3%
CLS Hardware, Equipment & PartsCelestica Inc.0.13+3,143%1.47+1.3%−2.4%−16.3%+7.4%−6.0%+12.9%−24.4%+105%−20.5%−25.7%−25.2%−65.1%27.1%+41.1%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.20+1,636%1.46+17.0%+6.7%+0.8%+18.3%+67.7%−10.4%−17.0%+17.8%−15.2%+2.1%+20.1%−9.4%26.2%+36.6%
MCK Medical - DistributionMcKesson Corporation0.04+413%1.44+51.8%+27.1%−28.4%−28.3%−4.5%+29.3%+11.8%+62.9%−40.4%+29.7%+64.9%−27.2%23.6%+26.9%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.13+690%1.41+86.6%−27.4%−8.2%+0.7%+17.4%+0.4%——————24.6%+29.6%
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Common questions

What was LYG's worst drawdown?

LYG's deepest decline since it began trading in 2001 was 94.8%, from October 2007 to March 2009. It has not yet climbed back to that peak.

What were LYG's best and worst years?

Over 24 full calendar years, LYG's best year was 2025, when it returned 104%. Its worst was 2008, with a return of -77.6%.

Is there a better investment than LYG?

Among LYG's popular alternatives, UBS, BAP and HSBC earned more than LYG with less volatility over the past 5 years. UBS returned 25.4% a year at 30.4% volatility, against 20.3% a year at 32.1%. Looking beyond its popular alternatives, CBOE (capital markets) and MUFG (banks) earned more than LYG with less volatility over the past 5 years. CBOE returned 21.5% a year at 25.1% volatility, against 20.3% a year at 32.1%.

Is LYG more volatile than the S&P 500?

Yes. LYG's volatility over the past 5 years was 32.1%, 1.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, LYG's return lands within 32.1% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is LYG's Sharpe ratio?

LYG's Sharpe ratio over the past 5 years was 0.74, against 0.79 for the S&P 500, so LYG earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is LYG with the S&P 500?

Over the past 5 years, LYG's monthly returns had a correlation of 0.49 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against LYG instead: the lower it is, the more that option would diversify a LYG holding.

What are the best alternatives to LYG?

Of the 19 popular alternatives we compared, seven outperformed LYG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: BAP, BBVA and SAN.

Did LYG outperform the S&P 500?

LYG finished ahead of the S&P 500 (SPY) in ten of 24 full calendar years. In 2025, it returned +104%, against +17.7% for the index.

How did LYG do in stock market crashes?

LYG fell less than the S&P 500 (SPY) in one of the nine major crashes it has traded through, and further in eight. The clearest case was the 2008 financial crisis, when LYG fell 94.8% and the S&P 500 fell 55.2%.

What diversifies LYG?

These had a low correlation with LYG over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.22), EMLP (correlation 0.44) and SMH (correlation 0.31); among large stocks, CAH (correlation 0.19), CLS (correlation 0.13) and FIX (correlation 0.20). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to LYG